Hi,
I posted part of this on the main forum, but didn't get any detailed response. I hope someone can help me -
Im a UK resident and tax payer with family. We are moving to Dubai to be become tax resident in 18 months from now and will obviously have several Dubai companies.
We currently have profitable online companies (ecommerce and saas), with UK Ltd companies setup with income.
We have 100 e-commerce sites (drop shipping), each making approx $5,000 each a month and 3 SAAS sites making approx $100,000 each a month. These are all growing rapidly.
Currently money paid into our UK ltd company bank accounts and using 2co / stripe payments for processing (in our names / company names).
I would like the following advice -
1. I don't like having all these sites using only a few payment processors incase 1 processor is band, it causes problems for most of the sites. Does anyone have a solution to have payment processors (stripe / other) under different companies / peoples names? Is it legal to have a company whose only role is to process payments and send the payouts to another company?
This will apply now and when we are in Dubai, as I don't want all payment processors in a few names. Anyway to get any of the money from the payment processors into crypto? I also don't want a direct link between my Dubai companies and the services / goods we sell / payment processors, incase there is any issues in the future. I see something like -
WEBSITE > PAYMENT PROCESSOR IN OTHER PERSONS / COMPANY NAME > BANK ACC IN OTHER PERSONS / COMPANY NAME > OFFSHORE COMPANY IN MY NAME > DUBAI COMPANY IN MY NAME?
2. What is my best plan over the next 18 months? The simplest way is to pay the money to the UK company bank accounts and pay 23% corporation tax, and remove no money for me personally. The UK companies could then invest or loan the profits to my Dubai companies now or in 18 months time. Is there any solution with me still being a UK tax paying resident for the next 18 months to not pay the UK corporation tax?
SEND UK COMPANY MONEY TO SOME OFFSHORE COMPANY?
3. We sell products and services to UK and EU consumers. As you know VAT regardless of where your company is located will need to be charged and paid in the very near future for any UK / EU sales. Is there anyway to avoid charging / paying UK / EU VAT? We could obviously just not charge it and just not pay it to the EU, but what could be the ramifications? Could we route the money through some offshore company to our Dubai companies for 12 months, then close the offshore company and start another and repeat process? How about payment processors / credit card processors reporting us / or disclosing our company?
I posted part of this on the main forum, but didn't get any detailed response. I hope someone can help me -
Im a UK resident and tax payer with family. We are moving to Dubai to be become tax resident in 18 months from now and will obviously have several Dubai companies.
We currently have profitable online companies (ecommerce and saas), with UK Ltd companies setup with income.
We have 100 e-commerce sites (drop shipping), each making approx $5,000 each a month and 3 SAAS sites making approx $100,000 each a month. These are all growing rapidly.
Currently money paid into our UK ltd company bank accounts and using 2co / stripe payments for processing (in our names / company names).
I would like the following advice -
1. I don't like having all these sites using only a few payment processors incase 1 processor is band, it causes problems for most of the sites. Does anyone have a solution to have payment processors (stripe / other) under different companies / peoples names? Is it legal to have a company whose only role is to process payments and send the payouts to another company?
This will apply now and when we are in Dubai, as I don't want all payment processors in a few names. Anyway to get any of the money from the payment processors into crypto? I also don't want a direct link between my Dubai companies and the services / goods we sell / payment processors, incase there is any issues in the future. I see something like -
WEBSITE > PAYMENT PROCESSOR IN OTHER PERSONS / COMPANY NAME > BANK ACC IN OTHER PERSONS / COMPANY NAME > OFFSHORE COMPANY IN MY NAME > DUBAI COMPANY IN MY NAME?
2. What is my best plan over the next 18 months? The simplest way is to pay the money to the UK company bank accounts and pay 23% corporation tax, and remove no money for me personally. The UK companies could then invest or loan the profits to my Dubai companies now or in 18 months time. Is there any solution with me still being a UK tax paying resident for the next 18 months to not pay the UK corporation tax?
SEND UK COMPANY MONEY TO SOME OFFSHORE COMPANY?
3. We sell products and services to UK and EU consumers. As you know VAT regardless of where your company is located will need to be charged and paid in the very near future for any UK / EU sales. Is there anyway to avoid charging / paying UK / EU VAT? We could obviously just not charge it and just not pay it to the EU, but what could be the ramifications? Could we route the money through some offshore company to our Dubai companies for 12 months, then close the offshore company and start another and repeat process? How about payment processors / credit card processors reporting us / or disclosing our company?
